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      Dealing with financial crisis at home

      With the economic downturn we've seen, it's no secret families across the country have had to tighten their belts to weather through the storm.

      That combined with higher prices for everything is making the situation even more of a challenge. But on a positive note, experts say its a good opportunity to talk about money with your children.

      Even if you haven't sat around the kitchen table to talk with your kids about cutting costs and tightening the budget, they may know already. The news media are doing their job to let everyone know about it. With that in mind experts say now is the time to clue your kids in.

      Verda Haidusec, counselor with Cornerstone Foundations for families in Quincy said, "We don't need to be in denial about what's going on we do need to talk about it and share appropriately with your young children are concrete thinkers, they will not be able top handle as much as a teens."

      She says it's important to explain to your kids tightening finances is necessary. As a group, talk about priorities and what you *have* to pay and what can be cut. And remember you have to set the example.

      Haidusec said, "Let them see you cutting back and every evening share what they done to help empowers."

      It can be a small as turning off a light when leaving a room or eating at home. But sharing those tips; encouraging kids to do their part; and praising those efforts helps bring the family together.

      Scott Ruff is a Financial advisor with Edward Jones in Quincy. He says this is a good time to teach kids about money and good stewardship.

      Ruff said, "It's important at time like this to create a budget and get whole house involved what are the expenses. It's important to use this time as a parent to help kids understand what's going on and what priorities and goals are to become better stewards when they become adults."

      You realize it's particularly important when you hear this, Ruff says the fastest growing population filing for bankruptcy these days is young adults 25 and younger.

      Now more than ever, the earlier kids get involved with making financial goals and following through, the better off they'll be.